Certain Closed-End Funds
And Dissidents Await Ruling

By

David Franecki Dow Jones Newswires

Updated March 10, 1998 12:00 a.m. ET

The closed-end-fund world is growing more contentious by the day.

The Securities and Exchange Commission is poised to issue a ruling that could change the way dissident shareholders challenge the management of these funds, which are traded publicly, unlike conventional mutual funds.

For the first time, dissidents are proposing to fire closed-end-fund managers to pressure the funds' boards to transform the funds into regular...